EXPLAIN THE DIFFERENCE BETWEEN A SECRET PARTNER AND A SILENT PARTNER.Berger checked into a motel and left a valuable stamp collection in his room because the motel did not provide safe-deposit boxes.
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February 10, 2021EXPLAIN THE DIFFERENCE BETWEEN A SECRET PARTNER AND A SILENT PARTNER.Berger checked into a motel and left a valuable stamp collection in his room because the motel did not provide safe-deposit boxes.
EXPLAIN THE DIFFERENCE BETWEEN A SECRET PARTNER AND A SILENT PARTNER.Berger checked into a motel and left a valuable stamp collection in his room because the motel did not provide safe-deposit boxes.
Write short notes on all of the following:
Personal Insurance
Real Property
Lease Contract
Partnerships
Employee contracts
QUESTION 2:
Berger checked into a motel and left a valuable stamp collection in his room because the motel did not provide safe-deposit boxes. The stamps were stolen. Was the motel liable for the value of the collection? Explain your answer.
QUESTION 3:
Explain the difference between a secret partner and a silent partner. List and briefly explain five different types of partners.
QUESTION 4:
Fox, who was going into the army, contracted with Scutti Auto Sales to sell his car for a commission. Scutti Auto Sales advanced $500 to Fox, with the understanding that the advance would be paid back out of the proceeds of the sale. Three weeks later, before the car was sold, Fox changed his mind and tried to terminate the agency. Was Fox legally able to terminate the agency?
MULTIPLE CHOCIE 30 MARKS
1. An example of a special bailment is the liability imposed on a
a. person who rents a car.
b. trucking company.
c. parking garage.
d. service station.
2. A special bailee is not liable for losses resulting from a typhoon because
a. a typhoon is a natural disaster that could not have been anticipated.
b. special bailments require only a reasonable level of care.
c. special bailees are exempt from all liabilities.
d. special bailees always have agreements with bailors to limit their liability
3. A common carrier whose equipment is detained by a customer for an unreasonable period of time can make a special charge called
a. containerage.
b. detonage.
c. a bailee’s charge.
d. demurrage.
4. A carrier that transports goods for certain customers only is a
a. limited carrier.
b. common carrier.
c. contract carrier.
d. mutual carrier.
5. The least costly type of life insurance is
a. endowment insurance.
b. limited payment life insurance.
c. term insurance.
d. whole life insurance.
6. In his application for life insurance, Meany lied about his health. The insurance company cannot cancel the policy if it discovers the lie after the policy has been in effect
a. one year.
b. two years.
c. three years.
d. five years.
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